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FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide - Business - Nairaland

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FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by Ekiti360(m): 7:03am On Jan 19, 2017
The Federal Government, yesterday, concluded plans to disburse N140 billion to petty traders nationwide to improve the Nigeria’s economy.

The initiative to be championed by the Bank of Industry, BOI, will benefit petty traders, artisans, enterprising youths as well as small scale farmers across the country.

To this end, BOI had employed the services of market aggregators to train, identify and monitor those that will benefit from the programme to ensure that the money is paid back in 24 weeks.

Speaking at the training of super agents, who are the foot soldiers for the effective implementation of the programme, in Abuja, the market aggregator of the Propoor Gate Foundation for the North, Yunusa Gafai, explained that the N140bn for the Government Enterprise and Empowerment Programme, GEEP, under its special intervention programme on social investment is to empower the beneficiaries economically.

According to him, the loans to be given to them range from N10,000 to N100,000 with no interest charges but an administrative fee of N500 per N10,000.

To access the loan, Gafai noted that the individual must be a registered member of an accredited market association, cooperative or trade group and must have a valid Bank Verification Number, BVN.

“As a market aggregator, what we do in each state is to first identify our super agents and call for their applications, after training them, we assign them to each association. They are then mandated to open an account for each beneficiary under them. Once they are able to do all that they are then qualified to apply and get the loan.

“The Bank of Industry is in charge of this loan and has promise to give only those already in business that needs expansion. For this to be implemented, the loan will be repaid daily by beneficiaries, according to the different categories.

“The amount to be repaid daily for the N10, 000 categories is N437.50, N875.00 for N20, 000, N2, 187.50 for N50, 000 and N4, 375.00.”

http://www.kikiotolu.com/2017/01/fg-boi-to-disburse-n140bn-to-petty.html
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by sweetval: 7:05am On Jan 19, 2017
Propaganda.. No b today.. undecided

1 Like

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by Nobody: 7:17am On Jan 19, 2017
Change!
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by Aufbauh(m): 7:32am On Jan 19, 2017
This is a very great news,so that we can rest in nairaland from the incessant wailing of ipob petty traders.

5 Likes

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by damton(m): 11:09am On Jan 19, 2017
Great initiative,

We only Hope it sees the light of the day

6 Likes

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by chimah3(m): 11:09am On Jan 19, 2017
ANOTHER AVENUE TO CHOP MONEY tongue tongue tongue
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by XXLDICK(m): 11:09am On Jan 19, 2017
Why should BOI give money to traders

We have enough traders already, what we need are industries.
Aufbauh:
This is a very great news,so that we can rest in nairaland from the incessant wailing of ipob petty traders.

2 Likes

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by mamatayour(f): 11:10am On Jan 19, 2017
Lies lies upon lies
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by nairaman66(m): 11:11am On Jan 19, 2017
Another white elephant project!
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by EdegbeLine: 11:13am On Jan 19, 2017
mamatayour:
Lies lies upon lies

They here with your negative thoughts about this govt.

Your mates enrolled for npower program and right now they have started collecting their stipends. is that also lies??

4 Likes

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by Royalfurnitures: 11:14am On Jan 19, 2017
Hope politicians and their cronies won't hijack the program

Pls check out my signature for quality and durable furniture

1 Like

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by sammyj: 11:15am On Jan 19, 2017
Ok
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by Flexherbal(m): 11:15am On Jan 19, 2017
Good
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by demarc001: 11:17am On Jan 19, 2017
Na hear we dey hear, abeg make e reach me !

1 Like

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by CaptPlanet(m): 11:17am On Jan 19, 2017
This habit of sharing and disbursing money in Nigeria does not do jack instead it makes people more dependent.

Why not invest the money in structures or use them to create better programs that will empower people and make them independent. Share this one today and tomorrow they'll come back for more....

1 Like

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by ephi123(f): 11:18am On Jan 19, 2017
"To disburse" lipsrsealed

Let us know when it is actually disbursed AND received by the intended recipients.

1 Like

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by Pavore9: 11:18am On Jan 19, 2017
Leaders of market associations and cooperatives will work on manipulating the system.

2 Likes

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by seguno2: 11:18am On Jan 19, 2017
They had better do it through cooperative societies otherwise there will be too many defaulters.
We should revive our cooperative societies.
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by Pavore9: 11:18am On Jan 19, 2017
Leaders of market associations and cooperative will work on manipulating the system.

1 Like

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by persius555(m): 11:18am On Jan 19, 2017
The same govt that hasn't been able to pay Npower stipends. Smh

2 Likes

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by helinues: 11:19am On Jan 19, 2017
Good development

1 Like

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by seguno2: 11:19am On Jan 19, 2017
ephi123:
"To disburse" lipsrsealed

Let us know when it is actually disbursed AND received by the intended recipients.

You are a too-sharp-somebody. Lol.
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by anthony86(m): 11:20am On Jan 19, 2017
This would only lead to inflation
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by seguno2: 11:20am On Jan 19, 2017
persius555:
The same govt that hasn't been able to pay Npower stipends. Smh

Just another propaganda loading......
Another promise that will not be fulfilled.
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by ephi123(f): 11:24am On Jan 19, 2017
seguno2:


You are a too-sharp-somebody. Lol.

Learning from you bros smiley

1 Like

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by Nobody: 11:25am On Jan 19, 2017
anthony86:
This would only lead to inflation
explain
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by deebsman1(m): 11:29am On Jan 19, 2017
Good initiative, pray its properly implemented and it's sustainable
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by MrGreenMavro: 11:30am On Jan 19, 2017
wink
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by vicade(m): 11:39am On Jan 19, 2017
I am tired. I will not be voting for Buhari in 2019. I campaigned for him online and offline and i am disappointed. These billions and the npower billions and aso rock budget billions and so many other billions can be spent on much more serious things. I am not in government but the hardship is real. I believe Government should mainly focus on Education,Security,Health and Food Security. To get these four things in Nigeria is now elitist.Yet all we hear is billions to revive the economy.

My poeple dont be shocked if by the end of the year they tell you GDP has improved and IMF Declares the recession over yet you are spending even more money on Cooking Gas,Indomie,Pure water, Gala and the likes. If the price of indomie and gas doesnt go back to the price it was prior to recession or my earnings dont improve to curb the inflation, then how can man survive ? However watch out, all these billions is a setup for December so that they will say recession is over when hardship will be rife and only GOD knows what dollar would be then.

As for we youths, These old guard cant help us. If you are young start processing Canada and relocate. If you can, give birth to your children in the USA so they can get citizenship. Nigeria is a dead country. Even if you have money your life is not secure which is sad because the first mandate of Government is security of life and property.

If you ask Fashola how many MW is needed for nigeria to be an industrial nation i am sure he wont know. Even power wont solve our problem. There is light in America, yet so many stuff are made in mexico and even iphone is assembled in China not america. Its just sad. All sectors in this administration is failing. I have great pity for the youths and the next generation.

2 Likes

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by darlenese(f): 11:43am On Jan 19, 2017
Una go old !
Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by hmuhammad(m): 11:48am On Jan 19, 2017
EdegbeLine:

They here with your negative thoughts about this govt.

Your mates enrolled for npower program and right now they have started collecting their stipends. is that also lies??
no mind her.

1 Like

Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by Artixmentor(m): 11:53am On Jan 19, 2017
This is a very good initiative, I pray they record success in the scheme.

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